AT&T strikes $850 million property deal with Reign | Inventory Information
Investing.com — AT&T (NYSE:) on Friday introduced a sale-leaseback settlement with Reign Capital, a non-public developer.
The deal, which includes 74 of AT&T’s much less utilized properties throughout the U.S., will generate $850 million in money for the telecommunications company.
The Dallas-based firm revealed that the settlement with Reign Capital covers 13 million sq. ft of central-office amenities.
These amenities have been initially used for giant, cumbersome gear for outdated networks. As AT&T plans to decommission the bulk of its legacy copper networks by the tip of 2029, these areas have develop into redundant.
Along with the speedy money inflow of $850 million, the deal contains provisions for future revenue sharing from the redevelopment of these properties, in line with AT&T.
The telecom giant will proceed to make lease funds to Reign Capital and can retain operational control of any areas vital for infrastructure entry.
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